With the clock ticking down, the Oakland City Council on Tuesday gave a revamped group planning the Coliseum City stadium development a 90-day extension of its exclusive negotiating agreement with the city.
Council members privately told us they were encouraged by the team’s 11th-hour addition of new deep-pocket investors being represented by San Diego asset manager adviser Floyd Kephart, chairman of the board of Renaissance Cos. Kephart is expected to take the lead role in the newly reconstituted group, New City Development LLC.
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